China Economic ReviewHuaneng Power International has announced plans to double its power generation capacity within seven years, reported China Daily. The chairman of China's largest independent power producer, Li Xiaopeng, said the company would add 1.5GW of capacity in 2003, 5.3GW next year and 7.5GW annually in subsequent years. It aims to achieve this goal by building […]
The Hong Kong-listed Xinao Gas Holdings has won a franchise to supply piped natural gas to Shijiazhuang, capital of the northern province of Hebei. It will take a 70 per cent stake in a joint venture with the state-owned Shijiazhuang Gas Group. The two companies will inject Yn130m into the joint venture, which will supply […]
China's state power monopoly was formally broken up in December, two months after the State Council approved the dismantling of the State Power Corp into five generating and two transmission firms. The five independent generators are Huaneng Group, Datang Group, Shandong International Power Group, Guodian Power Group and China Power International. The Southern Power Grid […]
Two power plants in Jiangsu province have launched China's first inter-city trading scheme for sulphur dioxide emissions, reported South China Morning Post. Gang Environmental Power Co of Taicang will pay Yn1.7m to Nanjing's Xiaguan Power Plant for the right to emit an extra 1,700 tonnes of sulphur dioxide annually. Emissions from the Taicang plant exceed […]
Sinopec, China's second largest oil company, will eliminate about 10,000 jobs in 2003 to cut costs and boost efficiency, Reuters reported. These cuts, which follow a reduction of 68,000 workers in 2001 and about 20,000 in 2002, would allow the company to achieve its target of reducing staff numbers by 100,000 between 2001 and 2005 […]